10/04/2014 Weekend Update

[daytradingES]

taggard

I think using the phrase "anal-retentive" is both unnecessary a direct personal attack and you have been awarded the i-list.

Your post is a great example of setting up a straw man only to take it down.
Since you don't have any idea of how I use estimates it is unnecessary an incorrect.

[daytradingES]

This board survives because people have ... disagree.

If you see something you disagree with their is no need to voice it.
One person might say the market is going down.

Another might think it is going up. He can just say I think it is up.

Not everyone has to have the same opinion and the wonderful thing about trading is it allows for many personal styles and approaches.

[taggard]

taggard

I think using the phrase "anal-retentive" is both unnecessary a direct personal attack and you have been awarded the i-list.

Your post is a great example of setting up a straw man only to take it down.
Since you don't have any idea of how I use estimates it is unnecessary an incorrect.

i am sorry you feel this way--in fact my post was in agreement with the tools you are using. esp the whole idea of "where are the stops?"--but the same idea of feeling this out applies to all of the other stuff you noted in the list. i assume you will not see this post as i am on ignore--but i never said anything about anything you were doing as being in any way incorrect. nor do i believe that. frankly i am surprised at your take.

you are correct in that i do not know how i use estimates however i did not go in that direction. so again i am sorry you feel this way but you are in error about this being any sort of personal attack--it is not and as noted in many ways i use the same 6 points you do.

finally i do often riff off ideas that people put up but many of my posts note that whatever works for you is fine. and always good luck to everyone. so good luck with your trades.

[Cobra]

Hi Cobra,

I've rarely posted but I definitely read your posts each day and I vote for you each day. I was in the Philippines recently and saw these sodas in a store in Manila and I just knew I had to take this picture and post it for you! You are probably one of the smartest stock market people in the world and I totally respect you and appreciate all that you do for us.

I really like your blog. You've been a big help for me and many of your posters have been a big help for me as well. Thank you for all that you've done and I hope you like the picture.

Cobra Smart, thanks, cobra likee.

[uempel]

OK... I couldn't exactly go cold turkey on Cobra...

Not exactly a trading chart, but something to keep in back of mind.
SOme time ago uempel posted a study of coppock curve channels to discern major market turns (bull to bear market).
I really liked that study and have been following this indicator since.
This study is similar but looks at double top patterns in the coppock curve.

The coppock is a slow moving monthly momentum indicator.
It's design use is actually to find bottoms (bear to bull market turn), but it seems like it can have some use for gauging tops.

To me, the message of the current chart is that the bull market still has some go.
However, folks should be prepping for a notable correction (bigger than this latest move) or two in the months ahead before the final highs are in.
One can also come to a view that a bear market may be in the cards to start next year barring a central banker stick save.
We'll see what happens.

The attachment Coppock Double Top.jpg is no longer available

Hi BachNut, here's my updated Coppock!